Delivers 360-degree application and network security to displace existing vendor

MAHWAH, N.J., Jan. 09, 2024 (GLOBE NEWSWIRE) -- Radware^® (NASDAQ: RDWR), a leading provider of cyber security and application delivery solutions, announced it signed an agreement with a leading European financial institution. Ranking among its country’s five largest banks in terms of total assets, the organization purchased Radware’s complete suite of network and application security and application delivery solutions.

Today, the bank, which has offices in more than 50 countries and thousands of employees, delivers a comprehensive set of financial services to private, corporate, and institutional clients. The bank decided to replace its existing security solutions provider to strengthen its protection against emerging threat vectors and enhance data availability and accessibility. In addition, the bank wanted to consolidate its security services under one vendor umbrella, including a web application firewall, API and DDoS protection, and bot detection and management. The company turned to Radware for its integrated, end-to-end solution.

“We are proud to be awarded the business and trust of prominent banks from around the world. It is a testament to Radware’s technology, service superiority, and spirit of partnership,” said Yoav Gazelle, Radware’s chief business officer. “Regardless of geography, companies are experiencing an alarming escalation in the sophistication of cyber attacks, making them even more difficult to detect and mitigate. They rely on Radware for real-time, 360-degree protection that consistently and automatically adapts to threats as they evolve and emerge across environments and entry points.”

Radware’s integrated, end-to-end network and application security solutions harness machine learning and powerful patented behavioral-based algorithms to automatically identify and adapt to changes in the threat landscape, applications, and infrastructure. Its broad footprint makes it an ideal solution for organizations interested in consolidating security platforms to enhance visibility and make maintenance easier and more cost effective.

To uplevel the cyber defenses across its hybrid environment, the bank selected Radware’s DefensePro^® X DDoS Protection platform and Cloud DDoS Protection Service, as well as its Alteon^® integrated application protection suite, Alteon Global Elastic License (GEL), and 24X7 Emergency Response Team (ERT) managed services.

Radware’s Alteon suite offers comprehensive application protection via embedded web application firewall, bot management and API protection capabilities. It defends against a wide range of threats, including OWASP vulnerabilities, bad bots, zero-day and supply chain attacks, and API assaults. Accompanied by Radware’s GEL, companies can allocate their application security services across any private or public cloud environment at a moment’s notice without jeopardizing their initial investment.

Using advanced behavioral algorithms, Radware’s combined DDoS defense is designed to detect and block harmful traffic, ensure uninterrupted availability, and protect networks from today’s most damaging threats. This includes Burst, DNS, and network and application DDoS attacks along with ransom DDoS campaigns, IoT botnets, phantom floods, and other types of cyber threats.

Radware has received numerous awards for its application and network security solutions. Industry analysts such as Aite-Novarica Group, Forrester Research, Gartner, GigaOm, KuppingerCole, and Quadrant Knowledge Solutions continue to recognize Radware as a market leader in cyber security.

About Radware
Radware^® (NASDAQ: RDWR) is a global leader of cyber security and application delivery solutions for physical, cloud, and software defined data centers. Its award-winning solutions portfolio secures the digital experience by providing infrastructure, application, and corporate IT protection, and availability services to enterprises globally. Radware’s solutions empower enterprise and carrier customers worldwide to adapt to market challenges quickly, maintain business continuity, and achieve maximum productivity while keeping costs down. For more information, please visit the Radware website.

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Safe Harbor Statement
This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements made herein that are not statements of historical fact, including statements about Radware’s plans, outlook, beliefs, or opinions, are forward-looking statements. Generally, forward-looking statements may be identified by words such as “believes,” “expects,” “anticipates,” “intends,” “estimates,” “plans,” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may,” and “could.” For example, when we say that our 360-degree protection consistently and automatically adapts to threats as they evolve, we are using a forward-looking statement. Because such statements deal with future events, they are subject to various risks and uncertainties, and actual results, expressed or implied by such forward-looking statements, could differ materially from Radware’s current forecasts and estimates. Factors that could cause or contribute to such differences include, but are not limited to: the impact of global economic conditions and volatility of the market for our products; the effects of the current attacks by the terrorist groups Hamas and Hezbollah, and the war between Israel and Hamas and Israel and Hezbollah; natural disasters and public health crises, such as the coronavirus disease 2019 (COVID-19) pandemic; a shortage of components or manufacturing capacity could cause a delay in our ability to fulfill orders or increase our manufacturing costs; our business may be affected by sanctions, export controls, and similar measures, targeting Russia and other countries and territories, as well as other responses to Russia’s military conflict in Ukraine, including indefinite suspension of operations in Russia and dealings with Russian entities by many multi-national businesses across a variety of industries; our ability to successfully implement our strategic initiative to accelerate our cloud business; our ability to expand our operations effectively; timely availability and customer acceptance of our new and existing solutions; risks and uncertainties relating to acquisitions or other investments; the impact of economic and political uncertainties and weaknesses in various regions of the world, including the commencement or escalation of hostilities or acts of terrorism; intense competition in the market for cyber security and application delivery solutions and in our industry in general, and changes in the competitive landscape; changes in government regulation; outages, interruptions, or delays in hosting services or our internal network system; compliance with open source and third-party licenses; the risk that our intangible assets or goodwill may become impaired; our dependence on independent distributors to sell our products; long sales cycles for our solutions; changes in foreign currency exchange rates; undetected defects or errors in our products or a failure of our products to protect against malicious attacks; the availability of components and manufacturing capacity; the ability of vendors to provide our hardware platforms and components for our main accessories; our ability to protect our proprietary technology; intellectual property infringement claims made by third parties; changes in tax laws; our ability to realize our investment objectives for our cash and liquid investments; our ability to attract, train, and retain highly qualified personnel; and other factors and risks over which we may have little or no control. This list is intended to identify only certain of the principal factors that could cause actual results to differ. For a more detailed description of the risks and uncertainties affecting Radware, refer to Radware’s Annual Report on Form 20-F, filed with the Securities and Exchange Commission (SEC), and the other risk factors discussed from time to time by Radware in reports filed with, or furnished to, the SEC. Forward-looking statements speak only as of the date on which they are made and, except as required by applicable law, Radware undertakes no commitment to revise or update any forward-looking statement in order to reflect events or circumstances after the date any such statement is made. Radware’s public filings are available from the SEC’s website at www.sec.gov or may be obtained on Radware’s website at www.radware.com.

Media Contact:
Gerri Dyrek
Radware
[email protected]